Pan-African banking group Ecobank has joined forces with telecom firm Orange to launch a new mobile-based money transfer service.
The launch of the service follows signing of a memorandum of understanding between the two entities.
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The tie-up aims to facilitate money transfers for both Ecobank and Orange customers by enabling them to top up their Orange Money e-wallet from their bank account, and vice versa.
At the same time, the service will allow Ecobank customers to view bank account balance and secure mini-statements by SMS.
Orange deputy CEO in charge of customer experience and mobile banking Laurent Paillassot said, "By facilitating exchanges between Ecobank and Orange Money accounts, our customers will be able to conduct financial transactions quickly and in complete security, bringing them the best of both worlds."
The service has already been rolled out in Mali. It is also scheduled to be launched in various other African countries such as Cameroon, Côte d’Ivoire, Guinea Conakry, Niger, Senegal and the Democratic Republic of the Congo, during the first half of this year.
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By GlobalData
